Saudi Arabia to build 100 model schools costing $1.33bn
February 14, 2017, 6:15 am GMT
Saudi Arabia will invest SR5 billion (US$1.3 billion) on an educational project that includes building 100 model international schools in Jeddah, Riyadh, and Dammam, The Saudi Gazette reported.
The project's first phase will include the construction of 50 schools in 2017 in the three cities. The move is also aimed at saving about 3000 small and medium schools in the kingdom that face closure.
"A partnership of educational, real estate and financial organizations has been created for the purpose," said Dr Mansour Al Khunaizan, chairman of the National Committee for Higher and International Education at the Council of Saudi Chambers.
"These schools will provide modern education to 100,000 students and create job opportunities for 10,000 male and female teachers," he added.
Al Khunaizan also revealed that the project will cost SR2 billion, while investors will receive a profit of SR350 million annually. Rental agreements will be signed for 20 years.
The remaining 50 schools will be established will be established in other northern and southern Saudi cities with dense populations during the second phase.
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